Parkway Wealth Management Group LLC Increases Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Parkway Wealth Management boosted its Seagate Technology stake by 22.6% in the first quarter, while other institutional investors also increased holdings. Institutional ownership remains very high at 92.87% of the company’s shares.
• Seagate reported better-than-expected quarterly results, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, up 44.1% year over year. The company also raised Q4 2026 guidance to 4.800–5.200 EPS.
• Analysts have turned increasingly bullish, with several firms raising price targets and ratings, including Zacks’ upgrade to strong-buy and Citigroup’s target increase to $1,150. The consensus rating is now Moderate Buy, with an average price target of $831.79.

Parkway Wealth Management Group LLC raised its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 22.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,673 shares of the data storage provider's stock after buying an additional 1,781 shares during the period. Parkway Wealth Management Group LLC's holdings in Seagate Technology were worth $3,789,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of STX. Integrated Wealth Concepts LLC increased its stake in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock valued at $610,000 after purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Seagate Technology during the second quarter worth approximately $262,000. Cerity Partners LLC boosted its position in Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after purchasing an additional 7,517 shares in the last quarter. Sei Investments Co. grew its holdings in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after purchasing an additional 462 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $1,025.36 on Friday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock's 50 day simple moving average is $811.11 and its 200-day simple moving average is $526.55. The company has a market cap of $229.92 billion, a PE ratio of 97.28 and a beta of 2.04. Seagate Technology Holdings PLC has a 1-year low of $138.00 and a 1-year high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The firm's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio is presently 28.08%.

Seagate Technology News Roundup

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Micron’s blowout results and strong AI-driven demand are lifting the entire memory/storage complex, including Seagate. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Analysts and market commentary are highlighting Seagate as an AI infrastructure winner with improving pricing power and durable earnings potential. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor coverage is also pointing to Apple’s warning about rising memory costs as evidence of a broader storage shortage, which could support pricing for Seagate and peers. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Short-interest data showed no meaningful short position change, so this does not appear to be a major near-term driver for the stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on STX shares. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Seagate Technology from $775.00 to $920.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Wedbush boosted their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Sanford C. Bernstein upped their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Citigroup increased their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $831.79.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 903 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 1,768 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the transaction, the chief executive officer owned 327,517 shares in the company, valued at $288,277,188.23. The trade was a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 141,069 shares of company stock valued at $107,161,712. Corporate insiders own 0.79% of the company's stock.

About Seagate Technology

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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